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Comcast agrees USD 44 bln bid for Time Warner Cable - report
2014-02-13 09:18:00| Telecompaper Headlines
(Telecompaper) Comcast has agreed to acquire Time Warner Cable for about USD 44 billion in an all-stock deal, according to multiple press reports in the US. Comcast is offering a premium of around 18 percent on TWC's last closing share price, valuing the company at EUR 159 per share. This beats an earlier offer of USD 132.50 from Charter Communications, which TWC deemed inadequate. The deal to merge the two largest cable operators in the US will likely require Comcast to sell off some assets. One source told Bloomberg that Charter is unlikely to match Comcast's bid but will look to acquire some of the assets Comcast would sell. Comcast is expected to offer to divest about 3 million subscribers to keep its market share below 30 percent and secure regulatory approval for the merger.
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Category:Telecommunications